Location: Mingo County, WV | Metro: Mingo County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The analysis for ZIP code 25651 reveals that the Fair Market Rent (FMR) for a three-bedroom unit in fiscal year 2026 is set at $900. However, the market rent for a similar unit is currently listed at $1,090, based on recent data from HUD. This means there is a significant gap of $190 between the FMR and the actual market rent, representing a discrepancy of approximately 17.4%.
The disparity between FMR and market rent is a critical factor for landlords and small-portfolio investors considering the Section 8 program. When the FMR exceeds the market rent, as seen in other areas, it can create a yield opportunity. In ZIP 25651, however, the FMR is lower than the market rate, which means landlords accepting Section 8 tenants will be renting their properties below the open-market value. This scenario can lead to reduced revenue and potentially impact profitability.
To anchor this analysis, consider the broader context of ZIP 25651. The area has a rental population of 20.5%, indicating a substantial portion of residents are tenants. While the median home value and median income are not specified, understanding these factors could provide additional insight into the economic conditions affecting rental decisions and affordability.
In conclusion, the gap between the FMR and market rent in ZIP 25651 presents a challenge for landlords interested in the Section 8 program. Accepting housing voucher tenants will result in a lower monthly rent compared to the open market, making it essential for investors to carefully assess the financial implications before participating.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.